Falling prices at the pump will lead to U.S. households spending less on gas next year than in the last eleven years, according to a forecast from the Energy Information Administration (EIA).

The average U.S. household is expected to spend about $550 less on gasoline in 2015 compared with 2014, as annual motor fuel expenditures are on track to fall to their lowest level in 11 years, according to the EIA.

Household gasoline costs are forecast to average $1,962 next year, assuming that EIA’s price forecast, which is highly uncertain, is...

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